Strong margin outperformance; optimistic outlook
Continue to expect industry-leading growth
* L&T Infotech (LTI)’s 2QFY21 revenue growth of 2.3% QoQ CC ..
Project ramp up, digital traction to drive revenue growth
In the current quarter, IT companies are expected to witness a healthy improvement in revenues on a QoQ basi..
Beat on margins; fair valuations
Top 2–10 clients remain soft
* Mindtree’s revenue growth (2.1% QoQ CC) was largely in-line. Margin expansion of 160bp..
Focus squarely on 5G, but await clarity on the timeline
We attended Tech Mahindra’s (TECHM) Analyst Day, wherein the management shared its refreshed strategy an..
Recovery factored in
We maintain REDUCE on Persistent Systems, despite its strong 1Q performance, as current valuations (at 16x FY22E vs. 14x 5-yr average) amply facto..
Large deal acceleration
We maintain BUY on Mphasis (MPHL), following a strong 2Q performance and high growth visibility ahead. We are positive on MPHL, based on (1) la..
Above estimates; better-than-expected recovery
Broad-based growth; deal pipeline remains strong
* Tata Consultancy Services (TCS) impressed with revenue growth of 4..
Guidance beats estimates; large buyback announced
Deal pipeline at pre-COVID levels
* Wipro reported better-than-expected revenue growth for the quarter (2% QoQ CC ..
Buy Sonata Software Ltd For Target Rs.383 - HDFC Securities
Sonata added 10 new customers in Q2FY21 vs. 6 customers in Q1FY21. The top travel cli..
Growth progression continues
We maintain ADD on L&T Infotech (LTI), following a strong operational 2Q and continuity in its growth leadership ahead. A positive ou..
Cloud demand to boost FY22 growth
Broad-based recovery; margin guidance raised for FY21
* HCL Technologies (HCLT) delivered strong revenue growth (4.5% QoQ CC) on..
Mortgage biz drives revenue growth; raises revenue guidance
* Revenue grew 11.8% QoQ to Rs11.9bn (up 12.2% QoQ/13.1% YoY in CC), led by strong momentum in mortgage an..
Rupee falls 10 paise to 73.94 against US dollar in early trade
Rate decision, US stimulus likely constraints to rupee's further appreciation
NCLT approves sale of IL&FS education arm to LEHL
Hyundai Motor India adds new Board members
Vodafone Idea board to mull raising funds post AGR verdict
Analysis: Making virus crisis budget, India needs to spend, funds may fall short
IRFC IPO to open on Monday in Rs 25-26 per share price band
FAITH hopes for a path-breaking budget for tourism industry
Centre mulls `bad bank`, PSB privatisation for Budget FY22
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